justatrader

AUDUSD - Employment data comparison (April 2014)

FX:AUDUSD   Australian Dollar/U.S. Dollar
337 2 5
How would it be if one were to trade purely on unemployment data? This chart shows some of the past comparison between the Aussie and US labour statistics and some very interesting trade opportunities.

The top block is for Aussie the lower block is for the USD. By just comparing the employment data of these two currencies, we can see how fundamentals set the currency path's direction.

When one of the two was extremely bullish and the other extremely bearish , the low of the Aussie employment day gave a great RR short trade. This worked twice when the trend was bearish . Jan data, price didn't retrace to the low. We could think of this as a change of trend. In Feb, despite bearish fundamentals, price was hovering above the low created by the Aussie employment data. Despite that, the low of that day yet again gave a great RR overall.

So, currently, we have the high of last Aussie empl. data at 0.91. So keep this price level in mind if shorting.

If Aussie data is extremely bullish (against the already weak US employment data) then we can expect 0.95 to be hit ahead or close to May 9th data.
Thanks. Will update the chart tomorrow with a possible trade idea. EURAUD though looks like is giving much better prospects in terms of the already existing shorts based off prev. H&S pattern.
Reply
Nice Work!
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out